Business
Nexstar Media Group Reports Record Fourth Quarter Net Revenue of $1.49 Billion and Fiscal Year 2022 Net Revenue of $5.21 Billion
Q4 Consolidated Net Revenue Drives Operating Income of $294.0 Million, Net Income of $178.1 Million, Consolidated Adjusted EBITDA of $598.2 Million and
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\nQ4 Consolidated Net Revenue Drives Operating Income of $294.0 Million, Net Income of $178.1 Million, Consolidated Adjusted EBITDA of $598.2 Million and Attributable Free Cash Flow of $422.1 Million\n\nExcluding The CW Network, LLC Q4 Adjusted EBITDA of $661.8 Million and Free Cash Flow of $458.1 Million\n\nAll-Time High Quarterly and Full Year Return of Capital to Shareholders of $293.3 Million and $1.02 Billion, Respectively\n\nIssues Average Annual Attributable Free Cash Flow Guidance for the 2023/2024 Cycle of $1.25 Billion\n\n IRVING, Texas--(BUSINESS WIRE)--\nNexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or “the Company”) today reported financial results for the fourth quarter ended December 31, 2022 as summarized below:\n\n\n\nSummary 2022 Fourth Quarter and Full Year Highlights\n\n\n\n\n\n\n\n\nNEXSTAR - CONSOLIDATED(1)\n\n\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended December 31,\n\n\n\n \n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\nYears Ended December 31,\n\n\n\n \n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n\n\n($ in millions)\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n\n\nCore Advertising Revenue\n\n\n\n \n\n\n\n$477.5\n\n\n\n \n\n\n\n \n\n\n\n$493.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(3.3\n\n\n\n)\n\n\n\n \n\n\n\n$1,718.3\n\n\n\n \n\n\n\n \n\n\n\n$1,761.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(2.5\n\n\n\n)\n\n\n\n\n\nPolitical Advertising Revenue\n\n\n\n \n\n\n\n \n\n\n\n265.9\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n18.9\n\n\n\n \n\n\n\n \n\n\n\n+1,306.9\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n505.6\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n45.2\n\n\n\n \n\n\n\n \n\n\n\n+1,018.6\n\n\n\n \n\n\n\n\n\nTotal Television Advertising Revenue\n\n\n\n \n\n\n\n$743.4\n\n\n\n \n\n\n\n \n\n\n\n$512.6\n\n\n\n \n\n\n\n \n\n\n\n+45.0\n\n\n\n \n\n\n\n \n\n\n\n$2,223.9\n\n\n\n \n\n\n\n \n\n\n\n$1,806.9\n\n\n\n \n\n\n\n \n\n\n\n+23.1\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nDistribution Revenue\n\n\n\n \n\n\n\n \n\n\n\n615.6\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n615.9\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n-\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2,571.3\n\n\n\n \n\n\n\n \n\n\n\n \...